Debtors

News & Analysis as of

US Supreme Court Decision in Bank of America, N.A. v. Caulkett

In a 9-0 decision released on June 1, 2015, the US Supreme Court ruled, in Bank of America, N.A. v. Caulkett, 135 S. Ct. 1995 (2015), that a debtor in a Chapter 7 bankruptcy proceeding may not void a junior mortgage lien...more

Alabama Homestead and Personal Property Exemptions Increased

On June 11, 2016, Governor Bentley (Alabama) signed into law ACT No. 2015-484 which became effective that same day. The law increases the personal property exemption available to individual debtors and surviving spouses to...more

Eleventh Circuit: While FDCPA Applies to Litigation Activity, Higher Standard May Be Required to Establish Violation

On Tuesday, the Eleventh Circuit Court of Appeals expanded the scope of conduct that is actionable under the Fair Debt Collection Practices Act (“FDCPA”) to include communications directed to a debtor’s attorney. However, the...more

Stripping Off Junior Mortgages Now Barred in Chapter 7 Bankruptcy Cases

The Supreme Court has unanimously decided that debtors are prohibited from stripping off junior mortgage liens in Chapter 7 bankruptcy cases. Lien stripping is where a bankruptcy court relieves a debtor of his second mortgage...more

Bankruptcy Beat: Bankruptcy Court Finds Debt To Third Party To Be A Non-Dischargable Debt Incurred In Connection With a Divorce

Bankruptcy Judge Albert Dabrowski was faced with a unique set of circumstances arising as a result of the intersection of a state court divorce action and a Chapter 7 bankruptcy case. In the matter of Corrine Sawyer v. Scott...more

U.S. Supreme Court Urges Resolution of Bankruptcy Disputes

The U.S. Supreme Court has provided new stimulus to the use of mediation in disputes over attorney fees in its June 15, 2015, decision in Baker Botts LLP v. Asarco. Baker Botts was employed by the bankruptcy debtor estate...more

Debt Free in 2016? Now is the Time to File Your Bankruptcy

It is hard to believe we are getting ready to head into the July 4th weekend! 2015 is almost half-way over and I have started to plan out the remainder of the year andit is crazy to think if you are thinking of filing...more

Raising a Drawbridge Objection: Eligibility in Chapter 15 Cross-Border Insolvency Cases

Insolvency like international law can lend itself to aggressive protectionism as parties or countries try to preserve their own interests, like medieval lords surrounded their castles with moats and towering walls to fend off...more

New York’s Highest Court Clarifies Judicial Foreclosure Standing Requirements

The New York Court of Appeals has clarified the requirements for showing standing to pursue judicial foreclosures in New York state courts after borrowers default on payment obligations, in a ruling that could resolve...more

How to Choose a Bankruptcy Attorney - Avvo.com

Need to find the best bankruptcy attorney to help you get your Fresh Start? Avvo.com, the lawyer rating site, provides a great way to compare attorneys. Avvo can be confusing, so I've put together this guide to the best use...more

Storied Gun Maker Colt Enters Chapter 11 In Delaware; Seeking A Quick Sale

On Sunday, June 14, 2015, Colt Holding Company LLC and 9 affiliates, including Colt Defense, LLC filed voluntary chapter 11 petitions in the United States Bankruptcy Court for the District of Delaware. The case is docketed...more

4 Reasons Bankruptcy Might Be a Very Bad Idea

For some filing for bankruptcy will not only bring a lot of much needed relief it is actually a smart financial step. Bankruptcy can clear away a lot of debt and truly provide a fresh start. However there are situations where...more

The Unknown World of Junk Debt Buying

This past weekend I attended a workshop in Seattle that was set up for consumer protection lawyers like myself who help people fight back against junk debt buyers like Midland Funding, Cavalry SPV, CACH, LLC (too name a few)....more

Sky’s the limit: Cape Town Convention extension to Cayman imminent

Practitioners will be aware that the United Kingdom Government is set to ratify the Convention on International Interests in Mobile Equipment and the Protocol thereto on matters specific to Aircraft Equipment (the Cape Town...more

U.S. Supreme Court Holds that Out of the Money Mortgages Cannot be Stripped Off in Chapter 7 Bankruptcy Cases

The U.S. Supreme Court held that a secured creditor in a chapter 7 bankruptcy case is protected from having its lien “stripped off” even if the collateral securing its claim is worth less than the claims asserted by a senior...more

The Supreme Court Continues Stability In The Secondary Mortgage Market

On Monday, the Supreme Court reaffirmed the principle that junior “underwater” residential mortgage liens can “pass through” a bankruptcy case unaffected. In Bank of America, N.A. v. Caulkett, the Supreme Court held...more

A Look at the Friendly Foreclosure Option

When a debtor defaults on a loan secured by personal property, the secured lender has several options for repayment. One option is to sell the collateral securing the debt pursuant to Article 9 of the Uniform Commercial Code...more

The Supreme Court Prohibits Chapter 7 Debtors From Stripping Off Wholly Underwater Liens in Bankruptcy

On June 1, 2015, the United States Supreme Court in Bank of America, N.A. v. Caulkett, 575 U.S. ____ (2015), unanimously held that a Chapter 7 debtor cannot strip off wholly “underwater” liens secured by the debtor’s...more

Can My Creditors Put me In Jail? [Video]

Debtor's prisons have been outlawed for more than a century yet I still meet with people who are worried that not paying their bills is going to result in them being put in jail. Not paying debts like credit cards, medical...more

20 Things a Debt Collector Can't Do [Video]

You wouldn't know it by their actions but debt collectors are actually a highly regulated group of people. The Fair Debt Collection Practices Act (FDCPA) governs what debt collectors and can can't do in their attempts to...more

5 Reasons Consumers Should File an FDCPA Lawsuit [Video]

Too often consumers just take the abuse dished out by debt collectors. Many are unaware that there are federal laws that regulate what debt collectors can do and say to collect on a debt. If the debt collectors violates the...more

Chapter 7 Debtors Cannot Strip Off Junior Liens on Underwater Home Loans, United States Supreme Court Rules

Yesterday, the United States Supreme Court ruled that debtors in Chapter 7 bankruptcy cases cannot “strip off,” or completely void, junior mortgages that—based on the value of the property and the amount of claims secured by...more

Why You Should Enter into a Payment Plan with a Junk Debt Buyer [Video]

Many times junk debt buyers like Midland Funding, Portfolio Recovery Associates, and CACH, LLC will sue people and immediately seek out of settlement of the debt. When people can't pay a large lump sum they will set up long...more

Beginners Guide to Debt Collection Lawsuits by Portfolio Recovery Associates [Video]

Portfolio Recovery Associates is one of the largest junk debt buyers in the nation. They file thousands of lawsuits every year against consumers and most end up in a default judgment simply because people don't know what to...more

Quick Guide to Stopping Collection Calls. [Video]

The first sign you have fallen behind on your bills is the constant debt collection telephone calls. These are not only annoying they can cause real problems with your family and your employment. In this video I discuss ways...more

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